£4m Seed Round Investment for Sheffield Uni Healthtech Spinout Exciting Instruments, Led by Visionary Founders

Northern Gritstone, the investment company focused on supporting science and technology businesses in the North of England, has announced a £4m seed funding round for Exciting Instruments, a promising spinout from the University of Sheffield. The round, which was oversubscribed, attracted a range of co-investors, including Empirical Ventures, NPIF II – Praetura Equity Finance, and serial entrepreneurs Stan Boland and Jonathan Millner.

At the heart of this development are co-founders Tim Craggs and Rob Bell, whose vision for transforming molecular analysis has driven the creation of Exciting Instruments’ groundbreaking platform for single-molecule detection. This technology promises to revolutionise a variety of industries, including pharmaceuticals, healthcare, and industrial applications. It enables users to visualise and analyse individual molecules and their interactions while automating high-throughput analytics—a game-changing advancement for efficiency and productivity.

Early customers, including pharmaceutical companies and leading research institutions, are already using the platform to drive new discoveries. With this fresh investment, Exciting Instruments plans to expand its team, develop commercial partnerships, and continue evolving its cutting-edge technology.

Duncan Johnson, CEO of Northern Gritstone, expressed his excitement for the founders’ vision: “Tim and Rob’s leadership is at the core of this exciting company. Their technology will not only advance health-related research but also contribute to the growth of Sheffield’s thriving tech sector. The oversubscription of this funding round underscores the potential of deep-tech investments in the Northern region.”

Craggs and Bell shared their ambition for global impact: “We’re not just building technology—we’re creating a new era where single-molecule insights become the foundation for breakthroughs in human health,” they said.

Investor Stan Boland also praised the founders: “Tim and Rob’s energy and determination are remarkable. Exciting Instruments is solving a deep market need, and I’m thrilled to support them in turning their innovative technology into a major business that will accelerate progress in disease detection and drug development.”

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Rebranded Yorkshire Tech Consultant Enablis Unveils Ambitious Growth Plans

Enablis, the newly rebranded Yorkshire-based technology consulting firm, has announced a strategic expansion, including a 300% workforce growth target for 2025. Formerly known as Fruition Consulting, the company has seen impressive growth since 2021, with turnover increasing by 90% over the past two years. This rebrand aligns with Enablis' commitment to driving its clients' digital acceleration through an expanded team and enhanced expertise.

The name "Enablis" reflects the firm’s mission to help clients navigate and accelerate their digital roadmaps, offering straightforward communication and a collaborative approach to deliver actionable results. The rebranding follows a significant private equity investment, positioning Enablis for long-term success in a fast-evolving tech landscape.

CEO Sarah Pawson commented on the change, emphasising the company’s focus on simplifying technology for clients and enabling long-term, successful partnerships. "Our new name and vision reinforce our commitment to empowering client teams with the skills, tools, and knowledge they need to succeed," said Pawson.

To support its growth plans, Enablis has also expanded its office space and strengthened its senior leadership team with the appointment of Ed Marshall as Chief Technology Officer and Peter Cotton as Chief Customer Officer, both recognised leaders in the regional tech sector. Enablis is poised to scale further, with a focus on delivering tailored solutions and supporting clients with an expanded team of experts.

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MAGIC AI Secures £4M Seed Investment to Scale Revolutionary Fitness Mirror

MAGIC AI, creator of the AI-powered MAGIC Mirror, has raised £4 million in seed funding, led by IW Capital with participation from Baleen Capital, SFC Capital, Ventures Together, and executives from TikTok, Meta, Spotify, and more.

The company, founded by Varun Bhanot & Sunil Jindal, is transforming the fitness industry with its proprietary AI tech, ReflectAI®, which powers real-time, personalised workouts. The MAGIC Mirror uses hologram video to track users' movements and offer tailored fitness guidance, aiming to make personal training accessible for all.

Tariq Attia, CEO of IW Capital, said, "We're pleased to have led this round of investment into MAGIC AI as it serves the home fitness market with its unique and proprietary AI fitness technology.

"The company has shown a strong performance to date, with a loyal user base, a unique technology proposition and an exciting roadmap ahead."

With key ambassadors like Sir Alastair Cook and Desiree Henry, MAGIC AI is set to expand globally, including into the US, and further develop its AI-driven fitness platform. The investment will support scaling operations and capitalising on the growing home fitness and digital wellness markets, projected to be worth billions by 2024.

MAGIC AI is now positioned to bring cutting-edge fitness tech to a global audience, enhancing accessibility to high-quality training and reducing injury risks for users worldwide.

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Recite Me Secures £4.6 Million Investment

Tyneside-based digital accessibility tech firm Recite Me has received a £4.6 million investment from BGF. This marks the second significant funding round for the company in less than a year, following a £4.2 million investment in March 2023.

Founded in 2009 by entrepreneur Ross Linnett, Recite Me aims to make the internet more accessible for people with dyslexia, visual impairments, and other disabilities. The company's software allows users to customise their browsing experience, making it easier to read and understand online content.

The new investment will enable Recite Me to expand its reach and further develop its technology. The company currently supports over seven million users worldwide and plans to increase this number significantly in the coming years.

BGF investor John Healey expressed confidence in Recite Me's future, stating that the company has the potential to become a global leader in website accessibility software. With the additional funding, Recite Me is well-positioned to capitalise on the growing demand for accessible online content.

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UK FinTechs Power Ahead: Volt IO, BankiFi, and Round Treasury Among Industry Leaders

The UK’s FinTech sector continues to flourish, with a host of innovative companies pushing the boundaries of financial technology. The 2024 FinTech 50 ranking by BusinessCloud highlights the impressive depth and breadth of the industry, with Volt IO & BankiFi among some of the names that have made the list.

BankiFi, founded by Mark Hartley is revolutionising engagement banking by empowering banks to re-engage with their business customers. Through a combination of technology, marketing, and human interaction, BankFI helps banks transform their digital channels into comprehensive platforms for SMEs. By offering services like payments, collections, accounting, and cash flow management, BankFI is enabling banks to become more customer-centric and drive growth.

Volt IO, founded by Tom Greenwood is at the forefront of real-time payments, driving the shift towards instant transactions. Its next-generation payment network aims to create a global, interoperable payment ecosystem, streamlining financial processes and enhancing the customer experience.

It’s exciting to see these companies alongside other industry giants, demonstrating the UK’s position as a global FinTech hub. Their innovative solutions are driving the future of finance, from real-time payments and embedded finance to enhanced customer experiences.

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